Supreme Court Denies SBI Extension for Electoral Bond Disclosures

The court orders immediate disclosure of donor details and political party recipients, aiming for transparency in political funding.

The Supreme Court of India has rejected SBI's plea for an extension until June 30 to disclose details of electoral bond donors and the parties which redeemed these bonds, mandating disclosure by March 12.
The Election Commission of India is ordered to make the disclosed information public on its website by March 15.
The court's decision comes after SBI failed to meet an earlier deadline of March 6 for disclosing the information, leading to contempt pleas by ADR and CPI(M).
Introduced in 2017, the electoral bonds scheme allowed anonymous donations to political parties, raising concerns over transparency in political funding.
The total amount donated to political parties through electoral bonds from March 2018 to January 2024 was ₹16,518.11 crore, according to ADR.